The following excerpt is from an article reported in an oniline issue of Bloomberg. Ford Motor Co( (A) sald it will repurchase $18 bilition of its shares to reduce dilution from recent stock grants to executives. The par amount per share for Ford's common stock is $0.01. Pald-In capital-excess of par is $5.39 per share on average. The market price was $16. Requlred: 1. Suppose Ford reacquires 112 miltion shares through repurchase on the open market at $16 per share. Prepare the appropriate journal entry to record the purchase. Ford considers the shares it buys back to be treasury stock. 2. Suppose Ford considers the shares it buys back to be retired rather than treated as treasury stock. Prepare the appropriate journal entry to record the purchase. Complete this question by entering your answers in the tabs below. Suppese ford reacquires 112 million shares through repurchase on the open market at $16 per share. Prepare the appropriate journal entry to record the purchase. Ford considers the shares it buyk back to be treasury stock. (If no entry is required for a transaction/event, minct "No joumal entry required" in the first account field. Entee vour answers in milliona (i.e., 10,000,000 should be entered as 10).) Journal entry worksheet